tag:blogger.com,1999:blog-26706564.post5830457376813779759..comments2024-03-25T07:51:47.758-04:00Comments on Thoughts On Economics: Some Aspects Of A Theory Of FinanceRobert Vienneauhttp://www.blogger.com/profile/14748118392842775431noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-26706564.post-52328561100906860242013-11-06T17:46:35.684-05:002013-11-06T17:46:35.684-05:00With regards to the different decision makers, som...With regards to the different decision makers, some variant of Minsky's division of hedge, speculative and ponzi units seems reasonable. Investors who apply leverage have an advantage if markets are not volatile. This creates a dynamic where more leveraged investors become the price setters.<br /><br />I write about the bond markets, and I argue that the best way to understand government bonds is in terms of expectations of the path of short rates. You end up with some variant of efficient market theory.Brian Romanchukhttps://www.blogger.com/profile/02699198289421951151noreply@blogger.com